Popular crypto analyst and trader Lark Davis has updated his followers on a new smart contract platform that could be a sleeper hit in 2021.
In his latest video, Davis highlighted smart contract platform Elrond (EGLD), the forty-ninth largest cryptoasset by market capitalization, as his ‘dark horse’ altcoin pick.
Davis was bullish on Elrond’s partnerships and tokenomics, calling the hype around the platform well deserved.
He said,
Elrond is basically everything ETH 2.0 wants to be, but today. They even had a massive shakeup to the tokenomics with a push for Bitcoin-like scarcity and Ethereum-like functionality… I think this is going to be an absolute star of the bull run so make sure to have this one on your radar
Davis called Elrond’s ecosystem “incredible” and said it trailed only behind ethereum and Polkadot.
The popular trader also mentioned Elrond’s ability to improve upon other crypto wallets with the Maiar digital wallet.
He explained,
Now this is a big step in terms of crypto wallet technology. So what the Maiar wallet is doing is they’re actually creating a unique and secure account for you registered on the blockchain and they do that using a cryptographic hash of the user’s phone number.
Davis called the wallet update an “extra layer” of security and technology.
In addition to Elrond, Davis said he was bullish on ethereum and its position to provide the majority of DeFi projects.
He said,
Now that we have Ethereum 2.0 Genesis launched in December, I just feel like nothing can stop the rise of Ethereum to just continue to absolutely dominate the smart contract platform space.
Featured Image Credit: Photo via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
